Utah commercial real estate investment sales were up more than 55 percent, according to Cushman & Wakefield | Commerce’s third quarter MarketBeat Investment Snapshot.
“Year-over-year, Utah is trending ahead of schedule by $200 million from last year’s historic growth in investment sales,” said Trigger Reital, Managing Director and Market Leader. “In 2014, this market hit its all-time investment record by topping $1.8 billion. This year is expected to be one of the top two years Utah has ever experienced.”
Despite only one transaction hitting $50 million and none exceeding $100 million, the average investment transaction size has increased over last year. Furthermore, the strongest segment was apartment sales, which had nearly $200 million in total volume in third quarter, including the sale of five properties of more than 200 units.
“Another record that has been broken this year is the combined sale of hotels, mobile-homes, storage units and assisted living facilities, which has topped $200 million,” Reital said. “This is a first for the market and is another indication of the strength and versatility of Utah investment.”
To access the full report, please visit: http://www.comre.com/uploads/reports/p1a3em95341eve9ktdnmef3hei3.pdf